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Ray McCormack
hirr
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Posted - 2008.05.21 19:43:00 -
[1]
About Right-click for Easter Egg.
A hedge fund for troubled times, the first of many RAY bonds is intended to offer a relatively secure and stable investment to the public.
Secure Like a very secure thing.
While there is always the chance things can go wrong, I have endeavoured to protect the investors from most eventualities. Barring me simply running with the ISK, there is little chance they could lose out.
Float Fund Not something found in a toilet.
To ward against the possibility of me not being able to afford interest payments, I have set aside 15b in assets to be liquidated in order to cover any unmet payments. This also serves to cover any missed payments should I disappear.
Hit By A Bus In event of death, go to heaven.
Should I not pay dividends for a period of two months, members of the holding corporation are instructed to liquidate assets and return the investment, including any missed interest payments. The Float Fund will cover both these and any loss on liquidation. The people listed under Contact are aware of whom to approach for liquidation.
Contact Men with husky voices phoning me at 2am.
I have supplied my personal contact details to various EVE friends, and they have been instructed to attempt communication with me should the bond default. I am looking for one other person to fill this role, as currently all are Corp or ex-Corp mates.
Silmas.
Wenby.
Others.
Interest 4.5%.
Interest will be paid monthly and paid out via ISK Transfer. A bond ledger will be maintained and investors will need to inform me of any transfers. The in-game share and dividend mechanism will not be used. The people listed under Contact will have access to the bond ledger.
Buyback 25 July 2008.
A 100% buyback policy will be considered active after two full months of operation. Investors may request their investment repaid anytime after this, but may be required to wait a week.
Start 25 May 2008.
The bond will start this Sunday, and the first interest payment will be made on Wednesday the 25th of June.
Minimum 1b.
A minimum investment of 1b is required. Please create a syndicate if you wish to invest in smaller amounts.
Maximum 5b.
A maximum investment of 5b is in place. Please use unrelated alts if you wish to invest in larger amounts.
Increment 1b. Complete lack of toilet joke.
Please invest in increments of 1b ISK.
How To How giev isk?!
To invest, simply transfer at least 1b ISK, but no more than 5b ISK to Ray McCormack before the 25th of May 2008. You will receive a confirmation EVEmail within 48h of transfer. See below for lazy copy/paste figures.
1000000000.00
5000000000.00
Final Word Congrats to LV!
EVE is an incredible sandbox, but a complex one. Similar to a gourmet sandwich with pickles.
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Ray McCormack
hirr
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Posted - 2008.05.22 05:20:00 -
[2]
 Originally by: EBANK Ricdic
Ray will you be using shares to pay dividends or just a list of names?
Originally by: Ray McCormack
Interest will be paid monthly and paid out via ISK Transfer. A bond ledger will be maintained and investors will need to inform me of any transfers. The in-game share and dividend mechanism will not be used.
I've handled 20+ investor schemes before this way. Hopefully this doesn't go higher than 25. Should it, I will consider an interest distribution Corp and issue shares to bond holders.
Originally by: Ichigo Black
but i can buy it with my alt (this char), and then transfer the shares to my main the shares when she's back rite ?
That is correct. Just send me an EVEmail to that effect.
Originally by: Khatred
Sorry to be the bearer of bad news but when bankers get hit by a bus, they don't go to heaven
No, we go to our own private little heaven bought with your blood money. It's a magical place, filled with the odours of cognac and fine hand-crafted cigars made by plebs in the lower levels of heaven.
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Ray McCormack
hirr
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Posted - 2008.05.22 16:30:00 -
[3]
Originally by: Alex555
and the only thing that i can garantee is 15 bln to cover some unexpected losses. but what about the rest plus interest?
I think you're misunderstanding something here. The 15b are assets I or a third party will liquidate should I not make interest payments for some reason. There is a two month time-frame on this. The 50b raised from this bond will be tied to assets which can be liquidated to repay the capital.
Originally by: Alex555
moreover what is the loosy return of 4.5%.
I don't understand loosy. Google translate returned zero results.
Originally by: Alex555
Ray, tell me the truth, what are u gonna do with the isks?
I appreciate you thinking we're on a first name basis, but it's Mr McCormack to you.
Originally by: Alex555
but i'm just against a trend of lowering return and then whining about stagnation on the secondary market.
What do you think the average return based on ISK value across all public bond and share issues has been over the past 4 years?
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Ray McCormack
hirr
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Posted - 2008.05.22 18:33:00 -
[4]
Originally by: Jennine Tyler
Try Lousy
Ah well, in that case, see the last part of my reply.
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Ray McCormack
hirr
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Posted - 2008.05.22 20:03:00 -
[5]
With the pending reserves the bond is now fully subscribed. You can continue posting reserves but please send no more ISK unless I contact you to offer someone else's place.
For those of you with outstanding reserves, please send the ISK by no later than the 25th. Let me know if you won't be so I can accept one of the later reserves. Thanks.
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Ray McCormack
hirr
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Posted - 2008.05.23 14:50:00 -
[6]
No more reservations or investments. Bond currently closed.
Ric, Ghost, MilowFV, Coconut Joe : you may all still send ISK before the 25th for your reservations.
If you have sent ISK but have not received a confirmation EVEmail (unlikely) please let me know.
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Ray McCormack
hirr
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Posted - 2008.06.24 21:00:00 -
[7]
Edited by: Ray McCormack on 24/06/2008 21:02:29
CCP, please fix the payout limit. Thanks.
Interest paid. 21 dividends. I got fed up and kept going until it looked right. I think I paid out 4.5%, or 45,097,156.58 per share. Someone able to confirm?
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Ray McCormack
hirr
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Posted - 2008.07.25 07:20:00 -
[8]
As stated in the original bond release, the buyback policy is in effect from today. Those wishing to return their shares for the original purchase price may do so by sending me an EVEmail first to arrange transfer. Do not send shares until told to.
Interest will be paid this evening.
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Ray McCormack
hirr
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Posted - 2008.07.25 16:33:00 -
[9]
Spam sent.
Fix the dividend amount restriction, please.
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Ray McCormack
hirr
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Posted - 2008.07.27 09:40:00 -
[10]
Not currently.
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Ray McCormack
hirr
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Posted - 2008.08.25 19:25:00 -
[11]
Interest paid via in-game dividend. CCP, please fix the dividend amount limit.
For those of you looking to sell bonds, your buyers are listed above. Additionally I have the names of other buyers that have contacted me in-game. I will not be releasing or re-purchasing any bonds this month (unless absolutely necessary).
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Ray McCormack
hirr
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Posted - 2008.08.25 19:28:00 -
[12]
Buyers List Like Santa's, but better.
Entaran
killerco
Kuzya Morozov
TheG2
Contact me in-game to arrange transfer with additional, anonymous buyers.
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Ray McCormack
hirr
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Posted - 2008.09.25 16:57:00 -
[13]
Dividends paid. Someone please confirm percentage is at least 4.5%. It should be over but for some reason I sent out less spam than usual. My mind is numb so can't work out if that is because of the re-purchases, technically it shouldn't be.
CCP. I'm a mildly intelligent person. And having recently worked on integrating accounting software for a Zimbabwean company I'm still none the wiser why there would be a maximum payout limit. Could it not be as simple as modifying the dividend textbox to use a float rather than a signed integer?
RAYBY will commit to any buyback requests this month, however you're welcome to pass your bonds on to another party in exchange for monetary remuneration or personal favours.
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Ray McCormack
hirr
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Posted - 2008.10.25 10:29:00 -
[14]
22 dividend spam mails sent.
I would like to purchase several outstanding bonds off investors. Please contact me if you would like to sell them.
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Ray McCormack
hirr
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Posted - 2008.10.25 10:31:00 -
[15]
Originally by: Jaabaa
Not that I've really ever been bothered by shares and dividends, but are you really telling us that there is a hard limit to the payout and that you have to do it multiple times to complete a commitment?
Yes. It is the maximum value of a signed integer.
Originally by: Jaabaa
1) Why was there ever a limit?
I couldn't tell you.
Originally by: Jaabaa
2) Has anyone done an official BR on this?
Probably not, I'd rather complain endlessly on the forums about it.
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Ray McCormack
hirr
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Posted - 2008.11.25 16:28:00 -
[16]
Two and twenty dividend spam mails sent.
Again I would like to purchase any outstanding bonds, please contact me for details.
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Ray McCormack
hirr
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Posted - 2008.12.26 07:12:00 -
[17]
It was a holiday bonus. My intention was to pay a double dividend, but I was fairly inebriated by that time and just kept going until the amount looked right. So you can thank CCP for that.
End 25 May 2009
The bond will end on Monday the 25th of May, marking the final interest payment and one year anniversary of RAYBY.
Bond holders are welcome and encouraged to cash their bonds in before that date, but will be required to after that date.
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Ray McCormack
hirr
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Posted - 2009.01.20 17:53:00 -
[18]
If you own RAYBY shares and are not on my stock ledger your investment may be at risk. You need to contact me post-haste with details of when, how and whom you obtained the shares off. If I have not acknowledged a transfer of ownership then your stake in RAYBY may be forfeit.
If they're merely sitting on an alternative character you need not worry.
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Ray McCormack
hirr
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Posted - 2009.01.26 06:27:00 -
[19]
Interest was paid manually yesterday, at the rate of 45m per bond. If you did not receive any ISK, or did not receive enough ISK it is because I could not match the ingame register to my own register and known sales.
Does someone have a link to the ebank sale, that's what I remember but cannot find?
If you own shares in RAYBY but did not receive any ISK, or did not receive enough ISK (45m per share) please send me an EVEmail detailing who, how and where you obtained the share.
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Ray McCormack
hirr
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Posted - 2009.02.26 06:34:00 -
[20]
Interest is late, RL has hit me with a bat. I'll be on at the weekend to sort everything out.
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Ray McCormack
hirr
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Posted - 2009.03.21 07:51:00 -
[21]
It's unlikely I'll be online before next weekend (I've downloaded 49% of the patch so far). So interest will be late again. When I'm on I'll sort out the payments and start liquidating assets to buyback outstanding bonds.
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Ray McCormack
hirr
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Posted - 2009.04.02 21:28:00 -
[22]
They're RAYBY shares ingame.
But yes, once I'm able to login I will begin liquidation and buyback all bonds with interest paid to May 25th.
On a side note, if anyone is willing to courier a copy of the latest build to me in Africa it would be most appreciated. All my attempts at downloading locally are ending in failure.
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Ray McCormack
hirr
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Posted - 2009.04.10 05:17:00 -
[23]
Thanks guys, it's okay though I got it sorted this week and was able to login last night.
I'll be liquidating assets over the next few weeks and begin the buyback.
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Ray McCormack
hirr
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Posted - 2009.04.19 11:18:00 -
[24]
Yeah, something like that. But mostly just because I haven't logged Ray's Cat in to check if the shares are there.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.01 05:48:00 -
[25]
That's the general idea.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.23 21:28:00 -
[26]
I will make the final dividend payment tomorrow and begin the buybacks.
Please don't send shares back to me (or my alts) until I tell you to.
Azerath, you may send yours first. You're looking kinda blue, maybe this will cheer you up?
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.26 04:58:00 -
[27]
Originally by: Ursus Minerva
I'm no economist, but this sounds mysteriously like what Bernie Madhoff did, almost to the letter.
Yup, clearly you're no economist.
Azerath, send shares to Ray McCormack.
Izlea, send shares to Kim McCormack.
Marcus Baltar, send shares to My McCormack.
No one else said shares until instructed. Please send a mail to Ray McCormack or post here to confirm you have sent the shares. Also, I won't be in-game again until tomorrow evening, so patience please.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.30 09:50:00 -
[28]
Azerath and Marcus Baltar, ISK transferred to you.
Izlea, send your shares to Kim McCormack.
Dranakolys, send your shares to My McCormack.
Athre, send Shar's shares to Ray McCormack. I will transfer ISK to his corp wallet.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.30 12:13:00 -
[29]
Originally by: Neon Fury
When will the rest of the bonds being returned?
Neon Fury, you can send your shares to Ray McCormack.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.30 12:21:00 -
[30]
Originally by: Serenity Steele
Good luck Ray. Out of curiosity, what is the Ad/dis advantage of not using the share mechanism for both you and the investor?
I used both the share mechanism and manual payouts during this bond. I initially used the share mechanism to avoid any mistakes involved with having to manually transfer ISK to around thirty different people.
I did not want to use the share mechanism as it meant I lost control over who had the shares, and in the case of me disappearing it would mean a tougher time for those assigned with the liquidation to complete their duties.
After steadily buying back bonds over six months I switched to manual payouts once the number of individual investors was low enough not to be an issue. At the same time I contacted ingame shareholders that didn't match my bondholder list to consolidate the two.
If I didn't care who my shareholders were, and had a backup director in the holding corporation; then I would have no concerns with using the share mechanism - besides the minimum dividend amount.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.30 16:55:00 -
[31]
Neon, Izlea, ISK sent.
Shae Laurel, send shares to Ray McCormack.
| Auction Prowler |
Ray McCormack
hirr
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Posted - 2009.05.31 07:37:00 -
[32]
Shae Laurel, Dranakolys, ISK returned.
Still fourteen bonds outstanding, please contact me to arrange transfer.
| Auction Prowler |
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